Friday, January 11, 2013

Price of gold rebounds slightly in Burma

Friday, 11 January 2013 00:00 Khin Myo Thwe

Rangoon gold merchants have confirmed that the local price of pure gold has risen slightly in accordance with the global trend.

“This week, the local price of gold increased a little. Demand is stable,” said Win Myint, the General-Secretary of Myanmar Gold Entrepreneurs Association.

He confirmed that gold continues to arrive on the Rangoon market from Sagaing, Mandalay, Pegu and Mon State.
According to a gold merchant from Rangoon’s Alone Township: “Last week [January 2], the local price for gold was 769,300 kyat (US $905) per tical. But by January 4, it was down to 753,500.

However, by January 7, the opening price was up to 759,300 kyat per tical, and by the close of January 9, it was up again at 761,500.

Gold merchant San Myint from Latha Township said, “From January 7 to 9, there is a sense of balance between the supply and demand of gold after a period of coolness over the New Year holidays.”
For more background:

Leave a Reply